When Nixon Shikuku visited Zambia and Uganda a few years ago, he learnt ‘how millions of money can be fished out of a lake’.
The idea excited him so much that he not only decided to venture into the activity but also asked members of his community to join him.
Shikuku, 45, an accountant, first approached his friend, Dave Oketch, and told everything he had learned about cage fishing from his travels.
And in August 2016, Rio Holdings Limited which is based in Ong’ukwa beach in Homa Bay County, was born with Shukuku and Oketch as its directors.
The company invested Sh5 million as capital for cages and other requirements such as feeds and boats.
APPROVAL OF AQUACULTURE EXPERTS
The company’s earnings from the small cages in their last harvest stood at Sh28.8 million.
The small cages are harvested after every six months, and they’ve been harvested twice since the company began its operations.
The directors told Seeds of Gold that about Sh11 million goes to operations like purchase of feeds, paying owners of the cages the company keeps on their behalf and paying the workers……